Ameren Offers Early Retirement to 715 Employees

ST. LOUIS, Mo. (KMOX) — Ameren Corporation announced Friday that a voluntary retirement plan is being offered to certain employees of Ameren Missouri, and Ameren Services Company, an Ameren Corporation subsidiary that provides support services.

Eligible employees must be 58 years-old or older in 2011, and be full-time. Also management and employees, who are represented by unions that have agreed to participate, are eligible.

Approximately 715 of the roughly 5,700 Ameren Missouri and Ameren Services employees are eligible.

“While our retail electric rates in Missouri are already approximately 30 percent below the national average, like everyone, we are tightening our belts during this challenging economic period by taking prudent, proactive steps to efficiently and effectively manage our costs for the ultimate benefit of our customers,” said Thomas R. Voss, chairman, president and CEO of Ameren Corporation.

“Clearly, we will not make staffing reductions that affect our ability to continue to provide safe and reliable service. However, this program is part of our continued efforts to create an organization that can operate effectively in an environment where demand for energy has softened, costs are rising and our reimbursement for those costs in rates continues to lag. Looking ahead, we will remain focused on maintaining our financial strength and flexibility and on delivering safe, reliable and affordable energy to our customers and solid long-term returns for our shareholders.”

Eligible employees will be offered a lump sum payment of two weeks’ pay for each full year of service with a minimum of 13 weeks and a maximum of 52 weeks of pay.

Eligible employees will have until December 22, 2011, to decide whether to accept the voluntary separation offer. Those who accept are expected to leave the company by year the end of the year.